My point is cash has no exclusivity on being legally clean and far from it.

@Dion DePaoliWe do work almost exclusively in low value band assets under 125K values.

The good news is that if since it is being used for investment use, you could also qualify for a 1031 exchange and take advantage of the 121 exclusion.

And by the looks of it, some very mature, pretty trees and I'm sure that neighborhood will look great during the holidays!

You also have two major holidays coming in the US (Thanksgiving and Christmas and construction will slow down as people take time off).

We use it exclusively for all of our REI Clients.

Some say they are the same, others will exclusively do one or the other, which would lead me to think they are more different than first imagined. 

Many of the things that made CA the titan have changed, CA does not have exclusivity on it as before.

Has anyone been in a situation where they acquired a condo and operated it as an STR when the HOA did not make the exclusion in their CC&Rs, but then faced resistance from the HOA?

Affordability is about 1:3So yeah on the surface it looks like a big difference, but there's a lot of things not controlled for in the stats- There were a crazy amount of houses built in the years just after the war, so housing stock was easy to come by everywhere;- Homes had nowhere near the kind of features they have now - 2 car garages, dishwashers, OTC microwaves, W/D hookups, high efficiency windows, central heat & air conditioning, etc - all those doodads and niceties drive up the cost of housing;- Fewer mortgages were 30 year, so homeowners had to pay (relatively) higher monthly payments;- Rentals were almost exclusively apartments, so there was more supply for buyers;ETCI think these things tend to be more stories that make for good press but aren't really that grounded in reality overall.